Bally’s (NYSE:BALY) Sees Unusually-High Trading Volume

Bally’s Co. (NYSE:BALYGet Rating) saw unusually-high trading volume on Monday . Approximately 28,609 shares changed hands during trading, a decline of 95% from the previous session’s volume of 596,199 shares.The stock last traded at $25.17 and had previously closed at $24.20.

Wall Street Analysts Forecast Growth

BALY has been the subject of several research analyst reports. JMP Securities initiated coverage on Bally’s in a research note on Tuesday, June 28th. They set a “market perform” rating for the company. Cowen reduced their price objective on Bally’s from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Barclays began coverage on Bally’s in a research note on Tuesday, June 28th. They set an “equal weight” rating and a $21.00 price objective on the stock. Truist Financial reduced their price objective on Bally’s from $38.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Finally, Cowen reduced their price objective on Bally’s from $53.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.22.

Bally’s Price Performance

The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $1.28 billion, a P/E ratio of -20.91 and a beta of 1.93. The business has a 50 day simple moving average of $23.23 and a 200-day simple moving average of $25.80.

Bally’s (NYSE:BALYGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $552.50 million for the quarter, compared to analysts’ expectations of $596.74 million. Bally’s had a positive return on equity of 0.80% and a negative net margin of 3.50%. The firm’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Analysts predict that Bally’s Co. will post 1.32 EPS for the current fiscal year.

Insider Activity

In other news, EVP Marc A. Crisafulli sold 20,363 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $22.00, for a total transaction of $447,986.00. Following the transaction, the executive vice president now directly owns 40,896 shares of the company’s stock, valued at $899,712. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BALY. Advisor Group Holdings Inc. increased its holdings in shares of Bally’s by 29.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,538 shares of the company’s stock valued at $60,000 after purchasing an additional 351 shares during the period. Point72 Hong Kong Ltd acquired a new position in Bally’s during the second quarter worth about $141,000. Bluefin Capital Management LLC acquired a new position in Bally’s during the second quarter worth about $215,000. Quantamental Technologies LLC acquired a new position in Bally’s during the second quarter worth about $224,000. Finally, Teacher Retirement System of Texas grew its holdings in Bally’s by 23.6% during the fourth quarter. Teacher Retirement System of Texas now owns 6,408 shares of the company’s stock worth $244,000 after acquiring an additional 1,225 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Bally’s Company Profile

(Get Rating)

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

See Also

Receive News & Ratings for Bally's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bally's and related companies with MarketBeat.com's FREE daily email newsletter.